ST. LOUIS, Aug. 1, 2017 /PRNewswire/ -- Graybar, a leading distributor of electrical, communications and data networking products and provider of related supply chain management and logistics services, today reported record second quarter results.
For the second quarter, Graybar achieved a net sales record of $1.7 billion, a 5.1 percent increase compared to the same period last year. Net income for the quarter was $33.3 million, up 30.0 percent from the same period in 2016. This marked the second best net income quarter in company history.
For the first six months of the year, the company reported net sales of $3.2 billion, a 4.8 percent increase compared to the same period last year. Net income for the first six months of the year increased 25.4 percent to $51.0 million.
"I am very pleased with our strong second quarter results," said Kathleen M. Mazzarella, chairman, president and chief executive officer of Graybar. "Our employees continue to raise the bar by providing exceptional service and value to our customers. Because of our shared commitment to achieving profitable growth, we will continue investing in strategic priorities to diversify our business and drive innovation for the long-term success of our company."
Graybar, a Fortune 500 corporation and one of the largest employee-owned companies in North America, is a leader in the distribution of high quality electrical, communications and data networking products, and specializes in related supply chain management and logistics services. Through its network of 290 North American distribution facilities, it stocks and sells products from thousands of manufacturers, helping its customers power, network and secure their facilities with speed, intelligence and efficiency. For more information, visit www.graybar.com or call 1-800-GRAYBAR.
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